Schedule 1, Part 2, paragraph 3

The provision of cash otherwise than through an automatic teller machine does not constitute a payment service where— there is a transfer of a corresponding amount from a payment account held by the recipient of the cash to a relevant person, and the payment account is not provided by a relevant person. In sub-paragraph (1), “relevant person” means— where the cash is provided by a person (“P1”) through one or more persons acting on P1's behalf, P1 and each person acting (directly or indirectly) on P1's behalf; where the cash is provided by a person (“P2”) otherwise than on behalf of another person or through one or more persons acting on P2's behalf, P2. The execution of the transfer referred to in sub-paragraph (1)(a), and other services enabling that transfer, are not excluded from the meaning of payment services by this paragraph.

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Source: legislation.gov.uk · retrieved 2026-09-04